March 1 Change in rules: Many financial rules change on the first of every month. Many rules have also changed from today. These rules have a direct impact on the general public. Let us know which rules have changed from today and what effect it will have on you. Let us know in detail in this article.
New Rules from March 1, 2024
The third month of the year has started from today. Along with the deadlines, there have been changes in many financial rules this month. The impact of these changes falls on the pockets of the general public.
Let us tell you that the prices of LPG cylinders and ATF are revised on the first of every month. Let us know which rules have changed from today.
1- LPG cylinder price
The rate of LPG cylinder changes on the first day of the month. Today the rate of commercial cylinder has increased by Rs 25.50. These new prices have come into effect from today. Now a 9 kg gas cylinder will be available in Delhi for Rs 1,769.50. Its price in February was Rs 1769.50.
There has been no change in the prices of domestic cylinders. The price of a 14.2 kg cylinder in the capital Delhi is Rs 903.
2- New rates of Petrol and Diesel
There is no change in the rates of petrol and diesel every day at 6 am. There was a change in their prices at the national level in May 2022. Even today their new prices have been released. However, there has been no change in their prices even today. Their rates differ in many cities due to taxes imposed by the state government.
3- Bank Holiday
RBI has released the list of bank holidays for March (March 2024 Bank Holidays). This month, banks will remain closed on many occasions like Shivratri, Holi, and Good Friday. Apart from this, banks will also remain closed on Sunday and second-fourth Saturday. However, despite the bank being closed, customers will get online banking services.
4- Changes in GST rules
From March 1, 2024, businesses with turnover above Rs 5 crore will have to provide e-invoice details for all B2B transactions. If he does not provide the information then he will not be able to issue the e-way bill. As per the Goods and Services Tax system, an e-way bill is required for goods worth more than Rs 50,000.
5- Paytm Payments Bank
Reserve Bank of India (RBI) has directed to ban Paytm Payments Bank Limited (RBI Ban On Paytm Payments Bank). The deadline for this ban is March 15, 2024. In such a situation, RBI has advised that customers should transfer the amount present in Paytm Payments Bank to another account before March 15.
6- Fastag KYC
National Highways Authority of India (NHAI) has made Fastag KYC update mandatory. Its deadline was 29 February 2024. If Fastag KYC is not updated then Fastag will be blacklisted or deactivated. Many people hope that the date of the Fastag KYC update may be extended but till now no official notification has come regarding this.
7- Social media rules
The rules of social media have also changed from March 1. The Government of India has made changes in the IT rules. According to the new rule, if any person posts wrong facts or wrong news on social media like X, Facebook, YouTube, and Instagram, then strict action will be taken against him. Apart from this, they may also have to pay a heavy fine.